The global crypto market has seen a continuation of gains as the bullish trend continues. The addition of capital to the market has added significant value. The value of Bitcoin, Ethereum, and others saw an enhancement in value. The market was in desperate need of gains as the continued losses had brought it to lows. As the influx of capital has continued, the value of the market has seen a speedy rise. If the influx continues further, the market might see a resumption of the previous gains pattern.
Japan has continued to promote digital technology. In a recent move, it has awarded mayors with NFTs for excelling at the use of digital technology. The awards were given to mayors for using digital technology to tackle matters like local issues and promote the digital economy. The NFTs were a supplementary award for seven mayors who received prizes.
According to media outlets, these NFTs were distributed during the Summer Digi Denkoshien 2022 ceremony. The ceremony was headed by Japan’s chief cabinet secretary Hirokazo Matsuno. The country’s Prime Minister, Fumio Kishida, also attended the ceremony. These tokens were issued on the Ethereum blockchain but leveraged POAP technology. These NFTs from the secretariat can’t be traded in the secondary markets.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC trading above $21K
Bitcoin profitability has jumped high in recent hours due to a bullish market. The incredible addition to Bitcoin over the last 24 hours has brought it back to competition. The digital asset added more than $1,500 in recent hours. The addition to profitability will attract more investors to Bitcoin in the upcoming hours.
Recent data shows that Bitcoin has continued to gain value. The data for the last 24 hours shows an addition of 10.05%. In comparison, the weekly data shows an addition of 6.64% to Bitcoin.
The price value for Bitcoin has enhanced to the $21,287.45 range. The market cap value for Bitcoin is estimated to be $407,571,522,712. The 24-hour trading volume of Bitcoin is estimated to be $49,779,917,745.
ETH speeds up
Ethereum has successfully deployed the final network test before the merge. The network’s 13th and final shadow fork was executed without any apparent issues, according to the Ethereum core developers. While Coinbase Ethereum staking token is available at a discount.
The performance of Ethereum has also enhanced due to increasing bullishness. The latest data shows an addition of 5.47% over the last 24 hours. The weekly data shows a gain of 9.55% for this coin.
The price value for ETH is currently in the $1,723.73 range. The market cap value for this coin is estimated to be $210,825,150,087. The 24-hour trading volume of this coin is about $20,521,303,408.
MATIC resumes gains
The performance of Polygon has seen a significant boost. The latest data shows an addition of 4.12% over the last 24 hours. The weekly data shows an addition of 0.58% to its value. The price value for MATIC is currently in the $0.8848 range.
The market cap value for Polygon is estimated to be $7,732,778,513. The 24-hour trading volume of this token is about $442,907,022. The same amount in its native currency is about 500,271,737 MATIC.
SHIB rising high
The value of Shiba Inu has also risen as the bullish trend continues. The latest data shows an addition of 4.66% over the last 24 hours. The weekly data shows a gain of 5.68%. As the bullish trend has continued, the price value for SHIB is currently in the $0.00001289 range.
The market cap value for SHIB is estimated to be $7,074,325,364. The 24-hour trading volume of this token is currently about $921,853,483. The circulating supply of this token is about 549,063,278,876,302 SHIB.
Final Thoughts
The performance of the global crypto market has seen a positive trend. The recent few weeks had brought the market to new lows. As the market has regained momentum, there has been a considerable addition to various tokens’ value. The performance of Bitcoin, Ethereum, etc., has considerably improved. The global market cap value has also been enhanced. The latest data shows that it is currently estimated to be $1.05 trillion.
